JPMorgan raised its Strategy stake 36% and held about $540 million of BlackRock's bitcoin ETF at the end of September, filing shows
JPMorgan increased its holding of Strategy shares by 36% in the third quarter, according to its latest quarterly holdings filing with the Securities and Exchange Commission, reported by The Block. The bank held 848,932 shares of the bitcoin-holding company on September 30, up from 624,387 at the end of June, a position valued at about $131.3 million in the filing.
The filing also showed 11,408,930 shares of BlackRock's iShares Bitcoin Trust (IBIT), worth about $540 million, up 9.6% from 10,407,635 shares the quarter before. JPMorgan also reported 1,581,814 Coinbase shares, stakes in Robinhood, and positions in bitcoin miners including Core Scientific, MARA Holdings, Riot Platforms, Hut 8 and CleanSpark.
The filing reflects holdings at the end of September, not today. Strategy closed Thursday at $114.41, The Block noted, which would value the reported stake at about $97.1 million, and bitcoin has since fallen below $69,000.
This story is reporting and analysis. It is not financial, legal or tax advice.
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